No, a mansion tax is unfair and impractical

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Chumbawamba policy (“It gets knocked down, but it gets up again”). No matter
what evidence has been thrown at it, the Liberal Democrat and Labour idea
for an annual mansion tax on the value of properties worth more than £2
million keeps re-appearing in public debate. It’s worth pondering why.

Is it because it would solve our deficit problems? Hardly. Liberal Democrats
claimed an annual levy of 1 per cent on properties above £2 million would
generate £2 billion in revenue. Yet new research from the Treasury has shown
that this revenue ambition would require an average annual charge of